DEW urges Sri Lanka to deviate from neo-liberal economic strategy

Former General Secretary of the Communist Party D.E.W. Gunasekera, has said the current economic crisis couldn’t be resolved unless Sri Lanka deviates from the neo-liberal strategy.

The former lawmaker said so at the opening of the 22nd National Congress of the Sri Lanka Communist Party recently. “44 years of experience is more than enough. We must embark upon a strategy of planning – market – state intervention. The strategy of Import and Consumption should make way for export-oriented, domestic production and national savings strategy. Our exports need diversification. Human resource development is the best guarantee for mixed foreign remittances. We must make our country the best tourist destination in the world. We must stop borrowing forthwith money from the international money market. We must go in for concessionary loans from our friendly countries. We must make best use of the new Silk Road Economic Project.

The most important element needed is national unity and religious harmony. This is the best guarantee for foreign capital. We missed the great opportunity offered to us by termination of anti-terrorist war.

The only way to ensure a new economic strategy is the unity of left, radical, nationalist forces. There is no other alternative.”

Excerpts of the speech: “National Congresses of our Party has always been eventful, colourful, and fruitful. It has immensely contributed towards raising political consciousness, enhancing political thinking, and formulating policies. Our Party, formed in 1943, in the midst of World War II, is the second oldest Party in the country.

At the outset, I wish to remember with great respect, honour, and gratitude the six founding leaders of our Party namely, Dr. Sugeeshwara Wickremasinghe, Pieter Keuneman, M.G. Mendis, Ven. Udakandewela Sri Saranankara, A. Vayithyalingam, and P. Kandaiah.

“The 22nd National Congress is being held at a time of a deep, profound, and decisive economic crisis. We had to postpone this Congress several times owing to the Corona Pandemic. Even today, we are holding it amidst health restrictions.

“We have presented a political thesis incorporating all aspects of the crisis for discussion and debate. We are now in the process of formulating economic policy and programme for the Country, taking into account the global developments, decisive changes, and also taking into account the successes and failures of our past Policies.

“Our last economic policy document, adopted by the 5th National Congress, was a long-term strategy and policies presented by the then General Secretary Dr. S.A. Wickremasinghe. It was the first and last Policy presented and ever introduced to the Country by a Political Party. It is still relevant which has now become a Study Course used by the Universities. New Economic Policy will be presented to the people in due course, after approval by a Special Congress.

“First, I would like to touch on the current international situation: We entered the 21st Century, with a new changing world economic order and also a changing new balance of power with a rise of the Asian economy. There is no longer a unipolar or bipolar world.

“There have emerged new regional economic centres – North American, EU, Asian, African Union, Latin American CELAC, emerging new Euro Asia, East Asia, North Asia, South Asia, and the Middle East, etc. This is an unprecedented development in economic history. The National Liberation Movement, Economic Globalisation, Scientific and Technological Revolution have brought about this reality.

“The second feature of world development is the decline of imperialism. The birth of modern imperialism took place in and around 1880, according to historian142 years have elapsed. The leadership changed from Great Britain to the US with World War II. With neo-liberalism in crisis, imperialism is passing through a period of decay and decline on all fronts after China became the second economic power as from 2010.

China has made two landmark achievements, namely alleviation of abject poverty and the new Silk Road Economic Project or the Belt and Road Initiative (BRI) comprising 140 odd countries. Argentina is the latest partner in the BRI.

“Imperialism is today left with three options. i.e., confrontation, competition, and corporation with 10 nuclear nations. Imperialism cannot again choose world war as a political solution to an economic crisis. That is why China and Russia appeal to the US, choosing competition or co-operation, preferably co-operation.

“We have to formulate our Economic Strategy in this world context.

“Thirdly, of late we are facing a geopolitical challenge here in the Indo-Pacific Zone relevant to Sri Lanka and South Asia.

“In my view, South Asia is more united and peaceful than ever before. We must strengthen this trend. We must continue with our non-aligned policy of dynamic neutrality. That is our appeal to all South Asian States. The emergence of two military organisations as “QUAD” and white Imperialist AUKUS. NATO has entered the Indo-Pacific Zone. It is making a similar attempt with the Ukrainian crisis expanding the frontiers to Eastern Europe. This is in line with the choice of “Confrontation Policy”. Our Congress condemned this attempt with all vehemence. We appeal to India to come back to its traditional policy of non-alignment.”